Mudrick Capital Management, L.P. - Dec 16, 2021 Form 4 Insider Report for Thryv Holdings, Inc. (THRY)

Signature
/s/ See Signatures Included in Exhibit 99.1
Stock symbol
THRY
Transactions as of
Dec 16, 2021
Transactions value $
-$90
Form type
4
Date filed
12/20/2021, 08:34 PM
Previous filing
Nov 17, 2021
Next filing
Jan 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction THRY Common Stock Options Exercise $74.5K +20.2K +0.21% $3.68 9.77M Dec 16, 2021 See footnote F1, F2, F5
transaction THRY Common Stock Tax liability -$74.6K -2.09K -0.02% $35.66 9.77M Dec 16, 2021 See footnote F1, F2, F5
transaction THRY Common Stock Options Exercise $192K +13.9K +0.14% $13.82 9.79M Dec 17, 2021 Direct F3
transaction THRY Common Stock Tax liability -$192K -5.04K -0.05% $38.08 9.78M Dec 17, 2021 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction THRY Stock Options (right to buy) Options Exercise $0 -20.2K -100% $0.00* 0 Dec 16, 2021 Common Stock 20.2K $3.68 See footnote F1, F2, F5
transaction THRY Stock Options (right to buy) Options Exercise $0 -13.9K -100% $0.00* 0 Dec 17, 2021 Common Stock 13.9K $13.82 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed by the following Reporting Persons: Mudrick Capital Management, L.P. ("MCM"), Jason Mudrick, Mudrick Distressed Opportunity Fund Global, LP, and Verto Direct Opportunity II, LP.
F2 On December 16, 2021, certain of the Reporting Persons and other funds affiliated with MCM exercised a total of 20,242 options previously granted under the Issuer's 2016 Stock Incentive Plan and sold to the Issuer a total of 2,091 shares of Common Stock underlying such options at a price of $35.66 per share, in each case, in accordance with the terms of the award agreement and the plan. Following such transactions, each of the following entities held shares of Common Stock as follows: 2,918,557 by Mudrick Distressed Opportunity Fund Global, LP; 1,140,131 by Blackwell Partners LLC Series A; 1,502,735 by Boston Patriot Batterymarch St LLC; 288,336 by P Mudrick LTD; 1,317,661 by Mudrick Distressed Opportunity Drawdown Fund II, LP; 2,509,830 by Verto Direct Opportunity II, LP; 92,985 by Verto Direct Opportunity GP, LLC; 1,031 by Mudrick Distressed Opportunity Drawdown Fund, L.P.; and 683 by Mudrick Distressed Opportunity Specialty Fund, LP.
F3 On December 17, 2021, Jason Mudrick exercised a total of 13,889 options previously granted under the Issuer's 2020 Stock Incentive Plan and sold to the Issuer a total of 5,041 shares of Common Stock underlying such options at a price of $38.08 per share, in each case, in accordance with the terms of the award agreement and the plan.
F4 Exercisable in four equal installments on the anniversary of the grant date on October 15, 2020. The unvested options expired in accordance with their terms in connection with Mr. Mudrick's departure from the board of directors of the Issuer.
F5 Mr. Mudrick is the sole member of Mudrick Capital Management, LLC, which is the general partner of MCM. MCM is the investment manager of the following entities: Mudrick Distressed Opportunity Fund Global, LP; Mudrick Distressed Opportunity Drawdown Fund, LP; Mudrick Distressed Opportunity Drawdown Fund II, LP; Verto Direct Opportunity II, LP; Boston Patriot Batterymarch St LLC; Blackwell Partners LLC Series A; and P Mudrick LTD; and Mudrick Distressed Opportunity Specialty Fund, LP. Mr. Mudrick is the managing member of Verto Direct Opportunity GP, LLC, which is the general partner of Verto Direct Opportunity II, LP. Each Reporting Person and each of the aforementioned entities disclaims beneficial ownership of any equity securities of the Issuer except to the extent of such person's or entity's pecuniary interest therein, if any.

Remarks:

Exhibit 99.1 (Joint Filer Information) is incorporated herein by reference.